Key financial information

Key financial information

color x y actual prefix postfix  
#bbbbbb 2012 479.0 479
#bbbbbb 2013 605.0 605
#bbbbbb 2014 864.0 864 m
#bbbbbb 2015 1150.0 1,150.0 m
#CA0928 2016 1382 1,382.0 m
color x y actual prefix postfix
#bbbbbb 2012 43 43
#bbbbbb 2013 69 69
#bbbbbb 2014 133 133
#bbbbbb 2015 204 204
#CA0928 2016 250 250
color x y actual prefix postfix
#bbbbbb 2012 9.7 9.7
#bbbbbb 2013 14.6 14.6
#bbbbbb 2014 28.3 28.3
#bbbbbb 2015 44.5 44.5
#CA0928 2016 55.4 55.4
color x y actual prefix postfix
#bbbbbb 2012 0 0
#bbbbbb 2013 0 0
#bbbbbb 2014 2.0 2.0
#bbbbbb 2015 4.0 4.0
#CA0928 2016 10.0 10.0
color x y actual prefix postfix
#bbbbbb 2012 2,458 2,458
#bbbbbb 2013 2,827 2,827
#bbbbbb 2014 3,597 3,597
#bbbbbb 2015 4,022 4,022
#CA0928 2016 4.700 4,716
color x y actual prefix postfix
#bbbbbb 2012 8.7 8.7
#bbbbbb 2013 12.2 12.2
#bbbbbb 2014 18.0 18.0
#bbbbbb 2015 22.8 22.8
#CA0928 2016 24.2 24.2
color x y actual prefix postfix
#bbbbbb 2012 562 562
#bbbbbb 2013 609 609
#bbbbbb 2014 696 696
#bbbbbb 2015 849 849
#CA0928 2016 1017 1,017
color x y actual prefix postfix
#bbbbbb 2012 14 14
#bbbbbb 2013 91 91
#bbbbbb 2014 172 172
#bbbbbb 2015 154 154
#CA0928 2016 139 139
12 months ended 30 June 2016
£m
2015
£m
2014
£m
2013*
£m
2012
£m
Revenue 1,382 1,150 864 605 479
Operating profit before exceptional items and financing costs 261 213 138 73 48
Operating profit before exceptional items and financing costs as a percentage of turnover 18.9% 18.5% 15.9% 12.1% 10.0%
Profit before tax 250 204 133 69 43
Net assets 1,017 849 696 609 562
Net debt 139 (154) (172) (91) (14)
Gearing (net debt as a percentage of capital and reserves) 14% 18.1% 24.8% 14.9% 2.5%
Return on capital employed – operating profit before exceptional items adjusted for joint ventures as a percentage of opening and closing capital employed 24.20% 22.8% 18.0% 12.2% 8.7%
Return on equity 26.80% 26.4% 20.5% 12.3% 8.4%
Number of legal completions 4,716 4,022 3,597 2,827 2,458
Earnings per ordinary share 55.4p 44.5p 28.3p 14.6p 9.7p
Dividends paid per ordinary share 10p 4.0p 2.0p - -
Net assets per ordinary share 275.0p 229.5p 188.1p 165.0p 151.8p

*Restated to reflect the application of IAS 19R – Employee Benefits.

12 months ended 30 June 2016
£m
2015
£m
Assets    
Intangible assets 2 2
Property, plant and equipment 17 12
Investments 25 17
Deferred tax assets 5 5
Retirement benefit surplus 6 -
Trade and other receivables 12 13
Total non-current assets 67 49
Inventories 1,808 1,500
Trade and other receivables 36 39
Cash and cash equivalents 135 56
Total current assets 1,979 1,595
Total assets 2,046 1,644
Equity    
Share capital 37 37
Share premium account 59 59
Other reserves 8 8
Retained earnings 913 745
Total equity 1,017 849
Liabilities    
Bank loans 230 150
Trade and other payables 156 84
Deferred tax liabilities 2 1
Retirement benefit obligations - 3
Long term provisions 7 7
Total non-current liabilities 395 245
Bank overdrafts and loans 44 60
Trade and other payables 566 471
Current income tax liabilities 24 19
Total current liabilities 634 550
Total liabilities 1,029 795
Total equity and liabilities 2,046 1,644
12 months ended 30 June   2016
£m
2015
£m
Revenue   1,382 1,150
Cost of sales   (1,048) (876)
Gross profit   334 274
Administrative expenses   (73) (61)
Operating profit   261 213
Financial income   3 3
Financial costs   (14) (12)
Net financing costs   (11) (9)
Share of profit of joint ventures after interest and taxation   -
Profit before tax   250 204
Income tax expense   (50) (42)
Profit for the year   200 162
Earnings per share - basic 55.4p 44.5p
  - diluted 55.2p 44.4p

Consolidated Statement of Comprehensive Income

12 months ended 30 June 2016
£m
2015
£m
Profit for the year 200 162
Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurements of post-employment benefit obligations 8 8
Deferred tax on actuarial (gains)/losses taken directly to equity (2) (2)
Other comprehensive income/(expense) for the year net of tax 6 6
Total comprehensive income for the year 206 168
12 months ended 30 June 2016
£m
2015
£m
Cash flows from operating activities
Operating profit/(loss) before financing costs 261 213
Depreciation and amortisation 1 1
Adjustment for non-cash items (5) (5)
Operating profit/(loss) before changes in working capital and provisions 257 209
Decrease/(increase) in trade and other receivables 7 (2)
Increase in inventories (308) (343)
Increase in trade and other payables 174 196
Increase in provisions - 1
Cash inflow generated from operations 130 61
Interest paid (6) (6)
Tax paid (46) (22)
Net cash inflow from operating activities 78 33
Cash flows from investing activities    
Sale of business - 9
Acquisition of software, property, plant and equipment (6) (1)
Net payments to joint ventures - continuing operations (11) (6)
Net cash (outflow)/inflow from investing activities (17) 2
Cash flows from financing activities    
Issue of bank borrowings 230 150
Repayment of bank borrowings (150) (175)
Purchase of own shares (16) (2)
Dividend paid (30) (15)
Net cash inflow/(outflow) from financing activities 34 (42)
Increase/(decrease) in net cash and cash equivalents 95 (7)
Net cash and cash equivalents at the beginning of the year (4) 3
Net cash and cash equivalents at the end of the year 91 (4)